Bullion (CBX) 'the Digital Precious Metal' | 2019 Roadmap published - page 241.

elambert

legendary

Activity: 1696

Merit: 1008

PoSP article starting to circulate now Grin

Quote

http://bitcoinprbuzz.com/over-2-years-old-valuable-bitcoin-alternative-cryptobullion-cbx-announces-unprecedented-posp-algorithm-and-expansion-into-chinese-markets/

You can also track it going viral
on twitter with this link
(keep scrolling down!):

https://twitter.com/search?q=%22Valuable%20Bitcoin%20Alternative%20CryptoBullion%20%22&src=typd&vertical=default&f=tweets

Should be on Bitcoin Magazine
and Boston.com etc within 24 hours.

snatchmonkey

member

Activity: 111

Merit: 10

Nice, thank you Elambert.

We just made it into the top 10 on the Bter voting list, just a matter of time I think until we take the number 1 spot.

elambert

legendary

Activity: 1696

Merit: 1008

PoSP PR piece will hit the news first thing Wednesday AM, US time. Keep an eye out

elambert

legendary

Activity: 1696

Merit: 1008

PoSP publicity piece has been submitted to Bitcoin PR Buzz today and will hit the wires soon.

Will provide update later.

c4shm3n

hero member

Activity: 719

Merit: 500

CLOAK Private,Secure & Untraceable Digitalcurrency

Very interesting project! Good luck guys!

cryptobullion.io

full member

Activity: 152

Merit: 112

Proof-of-Value Network page added to website
http://cryptobullion.io/proof-of-value-network/

VonSpass

legendary

Activity: 894

Merit: 1064

Quote from: BitcoinFX on July 22, 2015, 06:29:47 PM

Quote from: BTCat on July 22, 2015, 05:15:36 PM

At what point becomes a coin a 'security', needing to comply with regulations, Fincen Sec etc.

I guess there must be at least two parties involved and backing your own coins is harmless Cheesy

Indeed. It is perhaps only possible (or worthwhile) to issue yourself with a personal asset-backed security using block chain technology, as you are the holder of both the asset and the certificate.

~ No one bought or sold anything in relation to the contract with oneself. There is no company to issue anything. All holdings are fully decentralized and remain in individual ownership. Cool

- https://wikipedia.org/wiki/Security_(finance)

- https://wikipedia.org/wiki/Asset-backed_security

Bitcoins are worthless because they aren't backed by anything

- https://bitcoin.it/wiki/Myths#Bitcoins_are_worthless_because_they_aren.27t_backed_by_anything

Bitcoin is Not Backed by Anything (And That’s OK!)

- https://bitcoinmagazine.com/17392/bitcoin-is-not-backed-by-anything-and-thats-ok/

Vladimir Putin Addresses Digital Currencies on Russian National TV

- https://bitcoinmagazine.com/21237/vladimir-putin-addresses-digital-currencies-russian-national-tv/

- “Bitcoins are backed by nothing, and this is the major problem.”

- https://wikipedia.org/wiki/Subjective_theory_of_value and https://wikipedia.org/wiki/Paradox_of_value

Very interesting read, BitcoinFX; especially your article on the paradox of value.

We are an interesting crowd here, at CBX! Quite different from the other coins...

cryptobullion.io

full member

Activity: 152

Merit: 112

Quote from: raizor on July 22, 2015, 05:15:25 PM

CBX Proof-of-Value Network Certification - Building a Decentralized Value Network using the CBX blockchain.

CBX Wallet Address:

Code:

5WqSTfYrhL4j69XtCouMZtDM1QjeExwbH3

Message:

Code:

I raizor hereby back 100 CBX with 1 Troy Oz of .999 Fine Silver.

Should I divest either my CBX and/or physical bullion holding then this statement is automatically considered null and void within the CBX Value Network.

I hereby endeavour to provide a separate notification should I divest this personal holding.

Verify Message:

Code:

H9yVyldMkA7iRabSLnetX8k73olRJeCExSNti66pW7TtihmMMC9TM1Jo77dGdZZnbL2FemxRxKeygEcX4IBWiKQ=

Here's mine guys.

I've used my (1oz) silver CGB bullion bar and backed 100 CBX with that. Having just been through the process, it's given me a few ideas on adding some related functionality to the wallet. I think we should be able to auto-generate and print the certificates within the wallet. We could even have a 'create backing' function, that we could make available from a context menu when clicking one of your own addresses in the wallet. Something along the lines of 'back this address', perhaps. We could also have a 'create backing' menu item in the main wallet menu that takes you through the process. As I think about this, it becomes clear that we need to be able to lock the coins within the local wallet. Anyone not using Coin Control to send funds may inadvertently transfer their 'backed' funds without realising it and void the backing. I think we should be able to mark wallets as in use for backing and avoid them being selected for transactions. If we add a 'create backing' option, this could create a new named address in the local wallet and transfer the backing amount to the new address without excessive user interaction.

It feels good to have done this though. I think this is going to be very interesting as it unfolds. Thanks again BitcoinFX

raizor

Official Verification:

cryptobullion.io

full member

Activity: 152

Merit: 112

Quote from: snatchmonkey on July 22, 2015, 01:31:55 PM

CBX Proof-of-Value Network Certification - Building a Decentralized Value Network using the CBX blockchain.

CBX Wallet Address:

Code:

5dG7rGUqejEVSnqBrKiQT743P4QrqbN3s6

Message:

Code:

I snatchmonkey hereby back 1000 CBX with 5 Troy Oz of .999 Fine Silver.

Should I divest either my CBX and/or physical bullion holding then this statement is automatically considered null and void within the CBX value network.

I hereby endeavour to provide a separate notification should I divest this personal holding.

Verify Message:

Code:

ILhnyDoSw6sqxQKXEKs0OfFbpnIIjI48h58cC5B4K2A+tu5a2nO1of6FSxJ+PzVbdjCIvw0kyH5zNNtlI2ZOaHI=

Official Verification:

cryptobullion.io

full member

Activity: 152

Merit: 112

Quote from: elambert on July 21, 2015, 05:25:21 PM

CBX Proof-of-Value Network Certification - Building a Decentralized Value Network using the CBX blockchain.

CBX Wallet Address:

Code:

5ZD5K59kfWk2c9V1MGbSxJLDSgGwXfXKZx

Message:

Code:

I elambert hereby back 1000 CBX with 1.0001 troy ounce of .9999 Fine Gold (2006 American Buffalo One Ounce Gold Proof Coin).

Should I divest either my CBX and/or physical bullion holding then this statement is automatically considered null and void within the CBX Value Network.

I hereby endeavour to provide a separate notification should I divest this personal holding.

Verify Message:

Code:

Hym8ugHrcOtFj7ugaBedf6+2RBD3PRytEmT0/YiP3iCrtNqoWTLqvCuUXw8XMYMoYc1JqHXpmqz2O7olTwnZ0dQ=

Count me in!

Official Verification:

cryptobullion.io

full member

Activity: 152

Merit: 112

Quote from: FiniteByDesign on July 19, 2015, 02:16:19 PM

CBX Proof-of-Value Network Certification - Building a Decentralized Value Network using the CBX blockchain.

CBX Wallet Address:

Code:

5hcqFigQAnXr3WpYgZP2Mn32FWirHWfj2X

Message:

Code:

I FiniteByDesign hereby back 1000 CBX with .25 Kilos of .999 Pure Silver ‘1999 Giant Silver Peace Proof Coin’ (Registration No. 203).

Should I divest either my CBX and/or physical bullion holding then this statement is automatically considered null and void within the CBX Value Network.

I hereby endeavour to provide a separate notification should I divest this personal holding.

Verify Message:

Code:

IJ5RzNx+6/rDEHjzFYsnWfrq0Kf4PyjA7plnF/fcl9F+MYAw7L3qW05//uSD57ikfZG6Bo76jAetzI10aX1pa2E=

Official Verification:

cryptobullion.io

full member

Activity: 152

Merit: 112

Quote from: BitcoinFX on July 17, 2015, 06:33:50 AM

Proof-of-Concept - Back-to-Basics - 2nd Backing

- https://bitcointalksearch.org/topic/m.11844494

CBX Proof-of-Value Network Certification - Building a Decentralized Value Network using the CBX blockchain.

Entitled: Shield and Spear Paradox - "What happens when an unstoppable force meets an immovable object?" - https://wikipedia.org/wiki/Irresistible_force_paradox

CBX Wallet Address:

Code:

5jSNbAr8WwZfokPwoARez5gkt6rQVcxFvX

http://blockexplorer.cryptobullion.io/a/5jSNbAr8Ww

Message:

Code:

I BitcoinFX hereby back 0.000001 CBX with 1/10 Gram 24K Pure .9999 Gold Maple Leaf Wafer Aurum ZZ53550.

Should I divest either my CBX and/or physical bullion holding then this statement is automatically considered null and void within the CBX Value Network.

I hereby endeavour to provide a separate notification should I divest this personal holding.

Verify Message:

Code:

ILCxgAOTn2f91qLbKVvQynElQ8UYs8iMzbuCZl7op2jZZLKZdz9ILGn/oHGpDxm5pCHpc4d7qaXZSXSWpklVmxQ=

N.B. This now 'backed' wallet address currently holds 0.001001 CBX. As 0.001 CBX is the minimum transaction fee the backed 0.000001 CBX is most likely absorbed as an 'Over Limit Transaction Fee' if spending from this address, ofc without receipt of additional funds to the address. Hence it remains an 'immovable object'? Grin

1/10 Gram 24K Pure .9999 Gold Maple Leaf Wafer Aurum is the lowest weight (certified) physical bullion that I could find to back the 'lowest' (common) denomination of CBX with. Cool

Official Verification:

cryptobullion.io

full member

Activity: 152

Merit: 112

Quote from: BitcoinFX on July 10, 2015, 01:26:31 PM

Proof-of-Concept - Back-to-Basics - Phase 1

CBX Proof-of-Value Network Certification - Building a Decentralized Value Network using the CBX blockchain.

CBX Wallet Address:

Code:

5aPRwXQXXBaZF9WDv3FWD8fRc9fxgQsQCh

http://blockexplorer.cryptobullion.io/a/5aPRwXQXXB

Message:

Code:

I BitcoinFX hereby back 1000 CBX with 10 Troy Oz of .999 Fine Silver.

Should I divest either my CBX and/or physical bullion holding then this statement is automatically considered null and void within the CBX Value Network.

I hereby endeavour to provide a separate notification should I divest this personal holding.

Verify Message:

Code:

IMUhmkIFFnWEJ9APS+CXnEFCEN3P42N6puqZlQzEqVsg3vBilnpeAa+svSMsQcAYbs3lSo4xRTafd2pPh9HBR24=

Official Verification:

raizor

full member

Activity: 171

Merit: 100

Some people just want to watch the world dance.

Quote from: elambert on July 23, 2015, 08:23:07 AM

Quote from: raizor on July 23, 2015, 08:16:04 AM

Quote from: elambert on July 23, 2015, 07:46:35 AM

I couldn't agree more raizor! The success of this to a certain extent will be reflective of how simple and easy to use we can make this process. It is not difficult as is, however requires some steps that could certainly be automated. Great thinking!

Thanks Elambert!

I had another thought related to this too, in relation to auto-detecting if a backed wallet address is used to send funds and therefore the backing is effectively voided. If we retain a list of all the CBX addresses currently backing metals, we could periodically scan this list to detected new sends from those addresses and discover any 'voided' backings. This would work with the data in a centralized database for the first iteration (database on a server rather than a decentralized blockchain). This opens us some extra functionality such as automatically voiding invalid backings (that have had funds removed) and updating the central list. We could even notify the associated backer or even a mailing list of all backers. A weekly/monthly summary email to everyone currently backing would be pretty neat. This could contain some statistics and graphs for the month and other information that backers may be interested. Still thinking this over and seeing what sticks, but I think any automation/ease-of-use changes we can make would be very useful.

raizor

Nice, I like it. Rather than an email though may I suggest perhaps a notification to the address via the Vault?

That's much better

elambert

legendary

Activity: 1696

Merit: 1008

Quote from: raizor on July 23, 2015, 08:16:04 AM

Quote from: elambert on July 23, 2015, 07:46:35 AM

I couldn't agree more raizor! The success of this to a certain extent will be reflective of how simple and easy to use we can make this process. It is not difficult as is, however requires some steps that could certainly be automated. Great thinking!

Thanks Elambert!

I had another thought related to this too, in relation to auto-detecting if a backed wallet address is used to send funds and therefore the backing is effectively voided. If we retain a list of all the CBX addresses currently backing metals, we could periodically scan this list to detected new sends from those addresses and discover any 'voided' backings. This would work with the data in a centralized database for the first iteration (database on a server rather than a decentralized blockchain). This opens us some extra functionality such as automatically voiding invalid backings (that have had funds removed) and updating the central list. We could even notify the associated backer or even a mailing list of all backers. A weekly/monthly summary email to everyone currently backing would be pretty neat. This could contain some statistics and graphs for the month and other information that backers may be interested. Still thinking this over and seeing what sticks, but I think any automation/ease-of-use changes we can make would be very useful.

raizor

Nice, I like it. Rather than an email though may I suggest perhaps a notification to the address via the Vault?

raizor

full member

Activity: 171

Merit: 100

Some people just want to watch the world dance.

Quote from: elambert on July 23, 2015, 07:46:35 AM

I couldn't agree more raizor! The success of this to a certain extent will be reflective of how simple and easy to use we can make this process. It is not difficult as is, however requires some steps that could certainly be automated. Great thinking!

Thanks Elambert!

I had another thought related to this too, in relation to auto-detecting if a backed wallet address is used to send funds and therefore the backing is effectively voided. If we retain a list of all the CBX addresses currently backing metals, we could periodically scan this list to detected new sends from those addresses and discover any 'voided' backings. This would work with the data in a centralized database for the first iteration (database on a server rather than a decentralized blockchain). This opens us some extra functionality such as automatically voiding invalid backings (that have had funds removed) and updating the central list. We could even notify the associated backer or even a mailing list of all backers. A weekly/monthly summary email to everyone currently backing would be pretty neat. This could contain some statistics and graphs for the month and other information that backers may be interested. Still thinking this over and seeing what sticks, but I think any automation/ease-of-use changes we can make would be very useful.

raizor

elambert

legendary

Activity: 1696

Merit: 1008

Quote from: raizor on July 22, 2015, 05:15:25 PM

Having just been through the process, it's given me a few ideas on adding some related functionality to the wallet. I think we should be able to auto-generate and print the certificates within the wallet. We could even have a 'create backing' function, that we could make available from a context menu when clicking one of your own addresses in the wallet. Something along the lines of 'back this address', perhaps. We could also have a 'create backing' menu item in the main wallet menu that takes you through the process. As I think about this, it becomes clear that we need to be able to lock the coins within the local wallet. Anyone not using Coin Control to send funds may inadvertently transfer their 'backed' funds without realizing it and void the backing. I think we should be able to mark wallets as in use for backing and avoid them being selected for transactions. If we add a 'create backing' option, this could create a new named address in the local wallet and transfer the backing amount to the new address without excessive user interaction.

raizor

I couldn't agree more raizor! The success of this to a certain extent will be reflective of how simple and easy to use we can make this process. It is not difficult as is, however requires some steps that could certainly be automated. Great thinking!

raizor

full member

Activity: 171

Merit: 100

Some people just want to watch the world dance.

Quote from: BTCat on July 23, 2015, 03:47:38 AM

Quote from: FiniteRed on July 21, 2015, 01:29:00 PM

Evening all, would be good to get CBX on a few more exchanges, has anyone submitted this form to Poloniex before? (love this exchange!)

FR

https://poloniex.com/coinRequest

btw. If someone contacted you in some way to get listed there it was likely a fake, someone on twitter asking for BTC to get listed.

Great idea guys! I did it just now. I also stated on the form that I was a developer of the coin and listed some of the things we are currently working on. I'm quite keen on Poloneix as the interface is pretty good - Fingers crossed!

When I submit the form, I get redirected to a plain page with diagonal grey stripes. Is this expected behaviour?

cheers,

raizor

BTCat

legendary

Activity: 1960

Merit: 1010

Quote from: FiniteRed on July 21, 2015, 01:29:00 PM

Evening all, would be good to get CBX on a few more exchanges, has anyone submitted this form to Poloniex before? (love this exchange!)

FR

https://poloniex.com/coinRequest

btw. If someone contacted you in some way to get listed there it was likely a fake, someone on twitter asking for BTC to get listed.

BitcoinFX

legendary

Activity: 2646

Merit: 1722

https://youtu.be/DsAVx0u9Cw4 ... Dr. WHO < KLF

Quote from: BTCat on July 22, 2015, 05:15:36 PM

At what point becomes a coin a 'security', needing to comply with regulations, Fincen Sec etc.

I guess there must be at least two parties involved and backing your own coins is harmless Cheesy

Indeed. It is perhaps only possible (or worthwhile) to issue yourself with a personal asset-backed security using block chain technology, as you are the holder of both the asset and the certificate.

~ No one bought or sold anything in relation to the contract with oneself. There is no company to issue anything. All holdings are fully decentralized and remain in individual ownership. Cool

- https://wikipedia.org/wiki/Security_(finance)

- https://wikipedia.org/wiki/Asset-backed_security

Bitcoins are worthless because they aren't backed by anything

- https://bitcoin.it/wiki/Myths#Bitcoins_are_worthless_because_they_aren.27t_backed_by_anything

Bitcoin is Not Backed by Anything (And That’s OK!)

- https://bitcoinmagazine.com/17392/bitcoin-is-not-backed-by-anything-and-thats-ok/

Vladimir Putin Addresses Digital Currencies on Russian National TV

- https://bitcoinmagazine.com/21237/vladimir-putin-addresses-digital-currencies-russian-national-tv/

- “Bitcoins are backed by nothing, and this is the major problem.”

- https://wikipedia.org/wiki/Subjective_theory_of_value and https://wikipedia.org/wiki/Paradox_of_value

Topic: Bullion (CBX) 'the Digital Precious Metal' | 2019 Roadmap published - page 241. (Read 359514 times)